The Tax Publishers2021 TaxPub(DT) 0173 (Kol-Trib)

INCOME TAX ACT, 1961

Section 271B

Where the conclusion of the AO was that assessee did not maintain books of account, no penalty under section 271B could be levied for not getting one's books audited under section 44A. Thus, the same was cancelled.

Penalty under section 271B - Validity - Imposition of penalty when assessee did not maintain books of account -

AO imposed penalty under section 271B on allegation that assessee did not maintain books of account. Held: Where the conclusion of the AO was that assessee did not maintain books of account, no penalty under section 271B could be levied for not getting one's books audited under section 44A. Thus, the same was cancelled.

REFERRED :

FAVOUR : In assessee's favour.

A.Y. : 2011-12


INCOME TAX ACT, 1961

Section 272B

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